Crisis? What crisis? As Europe wrestled with Greek bailout, Governor of Bank of England spent six days at Wimbledon

Bank of England Governor Sir Mervyn King was under fire last night for taking time out to watch Wimbledon while European leaders held crisis meetings to stave off financial chaos.

Sir Mervyn, 63, spent at least six days at the tennis championships mixing with dignitaries in the Royal Box – where guests are required to switch off their mobile phones.

While he was there, watching matches including Jo-Wilfried Tsonga’s defeat of Roger Federer and Andy Murray’s semi-final against Rafael Nadal, crucial decisions were being taken in Greece that threatened the future of the euro.

Wednesday June 29: Looking as though he hasn't a care in the world, Sir Mervyn King greets Chancellor George Osborne in the Royal Box

There were also several announcements concerning the dire state of the UK economy.

If he followed the rules on mobiles, Sir Mervyn would not have been able to call his office while on court – although the Bank insists it was able to contact the Governor at all times.

The behaviour brought echoes of Prime Minister Jim Callaghan’snonchalant response to a lorry drivers’ strike during the Winter of Discontent in 1979, which was greeted by the headline: ‘Crisis? What crisis?’

Over the past fortnight, the Government and the Bank have been drawing up contingency plans to shore up the UK’s financial system in the event of Greece defaulting on its debts.

Monday June 20: Sir Mervyn looks on intently on the first day of the Wimbledon Championships, as the IMF warned that the escalating Greek crisis could lead to global financial meltdown if Europe failed to act

Sir Mervyn said: ‘There’s sufficient concern in the market about a default for us to think carefully about contingency plans and the consequences of such an event.’

Despite the fears, The Mail on Sunday has established that the Governor attended Wimbledon on five weekdays and one weekend day during the fortnight.

He was there on its first day, Monday June 20, alongside guests including the Duke of Kent, Sir Terry Wogan and Sir Jackie Stewart.

In the early afternoon, as the International Monetary Fund warned that if Europe failed to tackle the Greek crisis it could cause a second global financial meltdown, Sir Mervyn saw first-round victories for Nadal and Murray.

The following day, June 21, as Greek prime minister George Papandreou begged his parliamentarians for support ahead of a late-night vote of confidence – which he narrowly, and crucially, won – Sir Mervyn was back in the Royal Box.

Tuesday June 21: The Bank of England Governor with former England cricket captain Mike Atherton as the Greek prime minister begged his parliamentarians for support ahead of a late-night vote of confidence

In the run-up to the vote, which could have seen Greece’s economy and the euro collapse if lost, the Governor was seen chatting in a Wimbledon VIP area to former cricketer Mike Atherton.

On court that day there were first-round wins for Serena Williams, Roger Federer, Novak Djokovic and Maria Sharapova.

As Wimbledon entered its second week, last Monday, the Governor – entitled to free tickets as a member of the All England Club’s managing committee – was there again.

Sir Mervyn was personally welcoming the Duke and Duchess of Cambridge to Centre Court as Richard Banks, the chief executive of UK Asset Resolution, warned of a ‘tsunami’ of house repossessions as soon as interest rates rise.

Then, last Wednesday when, shortly after 2.15pm, the Greek parliament approved a five-year austerity programme to avoid national meltdown and the euro’s potential collapse, Sir Mervyn was captured by television cameras looking relaxed in the Royal Box with Chancellor George Osborne.

MONDAY JUNE 27: Sir Mervyn entertained various Royals while stationed in their designated box, including Princess Michael of Kent on the day that UK Asset Resolution warned of a 'tsunami' of repossessions

Other guests that day – who Sir Mervyn is understood to have welcomed to the club in his role as a committee member – were Sir Michael Caine and Vogue editor Anna Wintour.

They watched quarter-final wins for Tsonga over Federer, and Murray over Feliciano Lopez.

He was in the Royal Box again yesterday to see Petra Kvitova win the ladies’ final.

Despite his repeated attendance, Sir Mervyn appeared only once in the official listings of VIPs invited to the Royal Box.

FRIDAY JULY 1: Sir Mervyn snoozes during the tense men's semi-final which saw Andy Murray defeated by Rafael Nadal. It was the day on which more gloomy figures on the state of Britain's economic recovery were released

A source at the Bank said yesterday that Sir Mervyn went to work in the mornings before taking afternoons off for the tennis and working at home in the evenings. Which may explain why, in one picture, it appears that the bank chief has fallen asleep.

Sir Mervyn has refused to confirm how many hours he worked during those mornings, when he left work or when he arrived at the tennis, and The Mail on Sunday has been unable to establish the timings.

But guests in the Royal Box are asked to arrive by 11.30am for a champagne buffet. They are then asked to take their seats on Centre Court by 1pm.

The journey by car from Sir Mervyn’s office in Threadneedle Street in the City of London to Wimbledon takes a minimum of 35 minutes, meaning he would have to leave before 11am to arrive by 11.30am.

Last night, the tennis trips were condemned by Emma Boon, campaign director of the TaxPayers’ Alliance.

‘While he is entitled to take time off, with the economy in such dire straits taxpayers will wonder why he thought the tennis was more important than solving the financial crisis,’ she said.

VIP Wimbledon membership: Sir Mervyn is entitled to free entry to the Royal Box every day - a perk worth £2,000

Following Friday’s matches, it is understood Sir Mervyn attended a champagne reception for All England Club members where guests were offered oysters, sushi, salmon, fillet steak and lamb chops.

Guests in the Royal Box are also spared no expense. When they arrive they are offered Lanson champagne followed by a ‘summer luncheon’ buffet featuring a lobster platter.

Wines on offer include a white Chassagne-Montrachet Les Chaumes Domaine and a red Gevrey-Chamberlain Domaine Roux. Both cost £60 a bottle.

Midway through the afternoon, a traditional cream tea with scones, jam and clotted cream is served.

Sir Mervyn has been a member of the committee since 2007. Because of this, he is entitled to free entry to the Royal Box every day – a perk worth £2,000.

However, on the days he is not ‘officially’ invited, he has to sit at the back. Other perks are an access-all-areas pass, including to the exclusive members’ enclosure where he can mingle with royalty and celebrities, and a courtesy car.

Dejected: The Governor was in the Royal Box to see Andy Murray lose his semifinal match against Rafael Nadal

The Mail on Sunday asked the Bank of England detailed questions about when Sir Mervyn arrived and left work on the days he attended Wimbledon.

A spokesman declined to comment, but issued a general statement.

It said: ‘Sir Mervyn King is on the committee of the All England Club. He uses part of his annual leave to make a small number of visits to Wimbledon where – along with other members of the committee – he acts as a host in the Royal Box.

‘This included greeting the Duke and Duchess of Cambridge on behalf of the All England Club on Monday. On the days he goes to Wimbledon he always works at the Bank in the mornings and works again at home in the evenings.

‘As a member of the Wimbledon management committee he is always easily contactable by the Bank while he is at the championships.

‘During the Wimbledon fortnight he has maintained his normal heavy workload.

Afternoons off: The journey by car from Sir Mervyn¿s office in the Bank of England (pictured) takes a minimum of 35 minutes, meaning he would have to leave before 11am to arrive by 11.30am each day

‘He spent last weekend at a meeting of central bank governors in Basel. He attended a meeting in Frankfurt of the European Systemic Risk Board, of which he is vice chair, and took part in the ¬subsequent Press conference.

‘He held a televised Press conference at the Bank of England for the launch of the Financial Stability Report. He appeared before the Treasury Select Committee of the House of Commons to be questioned on the May Inflation Report, and on the Bank’s accountability.

‘And he has held meetings with the Chancellor, the Monetary Policy Committee and many other people both inside and outside the Bank of England.’

A source confirmed that when he goes to Wimbledon, Sir Mervyn takes only the afternoon, rather than the whole day, as annual leave.

The All England Tennis Club confirmed that guests in the Royal Box were asked to switch off mobile phones and not to use ‘other mobile devices for the purpose of sending text messages or emails’.

The Bank spokesman added: ‘I am not going to go into the details of the Governor’s schedule. I repeat that the Bank is able to contact the Governor at all times.’

In the event of a crisis threatening the financial system, Sir Mervyn would play a key role as part of the Tripartite Standing Committee comprising the Bank, the Treasury and the Financial Services Authority. Deputies from the three bodies meet monthly, but in the event of a crisis an emergency meeting of the Governor, the Chancellor and the chief executive of the FSA would meet at the Treasury to address a threat to the UK financial system.